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Exhibit 10.8
US Diagnostic Inc. Letterhead
October 27, 2000
Xx. Xxxxxx X. Xxxx
000 X. Xxxxxxxxxx Xxxxxx, 0xx Xxxxx
Xxxx Xxxx Xxxxx, Xxxxxxx 00000
Dear Xxx:
The following shall outline the agreement between US Diagnostic Inc. ("USD") and
Xxxxxx X. Xxxx ("JP") regarding consulting services to be performed to by JP
effective January 5, 2001.
JP will provide to USD consulting services, including but not limited to the
following items:
1. Continue to identify the buyers and negotiate the transactions at
favorable terms to US Diagnostic Inc.
2. Continue to be the liaison with DVI in terms of agreeing to the various
pay-downs on the debt instruments.
3. Assist the Company in contract preparation and key elements within said
contracts.
4. Assist the Company in developing and implementing the strategy of
reducing B&C and corporate overhead.
5. Assist the Company in completing the Form 10K for the year 2000.
6. Assist the Company in litigation settlements and trial preparations
based on the history of the events of USD.
7. Assist the Board of Directors in the various strategies being
contemplated involving potential merger or other business opportunities
for the company.
8. XX agrees that no additional compensation will be paid in connection
with any of the imaging centers whether or not they are transacted as a
stock transaction or an asset sale.
USD will pay to JP, as an independent contractor, a fixed monthly rate of
$15,000. The payments will be due commencing January 5, 2001 and will be due on
the 5th of each month thereafter. In addition, USD will bear the costs of
reasonable expenses incurred by JP in connection with performing those services
including but not limited to, travel, etc. Additionally, USD will provide JP
with an office and related access to USD's computer systems, etc. in order to
properly fulfill the engagement.
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Either party may cancel this agreement upon the giving of sixty-days notice, at
which time all obligations other than the payment for the services rendered
through the termination date shall be terminated.
This letter agreement shall in no way amend or replace the current agreement
between USD and JP regarding JP's current employment with USD, and will only
become effective upon the actual termination date of JP's current employment
agreement.
Please signify your concurrence with this agreement by signing where indicated
and returning a copy to USD.
Sincerely,
US DIAGNOSTIC INC.
By: /s/ Xxxx Xxxxxxx
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Xxxx Xxxxxxx
Executive Vice President
Chief Operating Officer
AGREED AND ACCEPTED BY:
/s/ Xxxxxx X. Xxxx
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Xxxxxx X. Xxxx
